Daily Headlines: Thursday, March 14, 2013

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March 14, 2013 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National National Weather Service Chief Focused on Improving Forecasting Computing power gives Europeans a commanding advantage when it comes to weather forecasting and storm tracking, but the new head of the ... Applying for Obama Health Care Plan Daunting Task Applying for benefits under President Barack Obama's health care overhaul could be as daunting as doing taxes. The government's draft ... CEOs Urge Federal Government to Go 'Light' on Cyber Security Corporate leaders from the defense, technology, energy and banking industries told President Barack Obama on Wednesday they agreed cyber ... Directors and Officers Liability Market Firming: Towers Watson The directors and officers liability market continued to see price increases in 2012, with more private/not-for-profit organizations ... Nintendo Found Guilty of 3D Patent Infringement A federal jury in New York on Wednesday found that video game company Nintendo Co. infringed an inventor's 3-D display technology patent ... Best Affirms Chubb Corp. and Subs 'A++' Ratings; Outlook Stable A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A++' (Superior) and issuer credit ratings (ICR) of "aa+" of the ... Basso Joins The Council of Agents and Brokers Phil Basso is joining The Council of Insurance Agents and Brokers as senior vice president for Leadership and Management Resources, the ... Willis Launches Insurance Program for Dairy Farm Industry Willis Programs, a specialty business unit of Willis Group Holdings, the global insurance broker, has introduced a customized insurance ... ACE Private Risk Survey: High Net Worth Families Overpaying to be Underinsured Most wealthy individuals and families who insure their assets with carriers geared primarily for the average U.S. household overpay for ... Agents Needed to Navigate Addiction Rehab Facilities Through Healthcare Reform The medical community's recognition of addiction as a disease has changed the way providers diagnose and treat the condition. As a result,... CFO Attacks Industry Reserve-Cheating Theory The chief financial officer of ACE Group challenged the popular theory that property/casualty insurers "cheat" on loss... More National News East New York State Releases Plans for $1.7B in Sandy Funds New York Gov. Andrew Cuomo announced statewide plans Tuesday to use $1.7 billion in federal storm-damage funds for home repairs, government ... SNL Analysis Highlights Sandy's Impact on P/C Underwriting Results Financial information firm SNL Financial's preliminary analysis of more than 2,600 individual property/casualty filer's statutory data ... Sirius XM Sues D&O Insurers, Seeks to Recoup Post-Merger Defense Costs New York-based satellite radio services company Sirius XM Radio Inc. filed a lawsuit against its directors' and officers' insurers last ... Cowles and Connell of New Jersey Appoints Marketing Vice President Cowles and Connell of New Jersey has added John Danka as marketing vice president for the New Jersey and Pennsylvania region. Danka's ... The Institutes in Pennsylvania Names Director of Member Knowledge for CPCU Society Nichole Ritz joined The Institutes as director of member knowledge for the CPCU Society. She is responsible for developing and implementing ... More East News Midwest Indiana Crop Insurance Payouts for '12 Losses Top $1B Indiana crop insurance payouts for losses during last year's drought have reached a record $1 billion. Purdue University said that Indiana ... Aon Risk Solutions Adds West as Senior VP in Chicago Aon Risk Solutions, the global risk management business of Aon plc, has added Max West as senior vice president in its Chicago office West ... Dale Joins Columbia Insurance Group as Omaha Branch Manager Columbia Insurance Group (CIG) welcomes Mark Dale as branch manager of the Omaha, Neb., branch office location. Dale has more than 25 ... Springfield, Illinois Fire Department Insurance Rating Slips The Springfield, Ill., fire department's insurance rating has dropped a notch. Mayor Mike Houston says that's because of longer response ... More Midwest News Southeast North Carolina Governor Says He Had No Role in $100M Offer for MetLife Move Gov. Pat McCrory said this week he had no role in a deal partly brokered by his former employer that promised MetLife Inc. about $100 ... Mississippi House Revives Guns in School Proposal Members of the Mississippi House want to steer the school safety debate back toward letting school districts arm teachers and employees. ... S&P Rates Florida Cat Fund Bonds "AA-' Standard & Poor's Ratings Services has assigned its "AA-" rating to Florida Hurricane Catastrophe Fund (FHCF), Florida's $2 billion revenue ... Florida Lawmakers Confront Cost of Improving School Safety The mass school shooting in Connecticut led officials to question if more should be done to beef up security in Florida's public ... More Southeast News South Central Louisiana Governor: Texas Brine Agrees to Sinkhole Buyouts Louisiana Gov. Bobby Jindal says a Texas company blamed for the sinkhole that  formed after the collapse of an underground salt cavern has ... Oklahoma Senate Votes to Privatize CompSource Agency The Oklahoma Senate has approved legislation to privatize the state's nonprofit workers' compensation agency. The Senate passed the measure ... Louisiana Citizens Property Insurance Corp. CEO Retiring Louisiana Citizens Property Insurance Corp. CEO Richard Robertson says he plans to retire June 1. Robertson told The Advocate he will ... Copper Thieves Hit Substations in Louisiana's Union Parish Union Parish, La., sheriff's deputies and Marion police are investigating the theft of a large amount of copper wiring from a substation ... More South Central News West Southern California School District Settles Lewd 'Tasting Games' Claims The Los Angeles school district will pay millions of dollars to settle claims and lawsuits filed by students and families from an ... Arizona Law On Medical Malpractice Suits Upheld A new Arizona Supreme Court ruling upholds a state law that seeks to screen out flimsy medical-malpractice suits by requiring that ... 3 Former Execs Plead Guilty In California Asbestos Case Three former executives of a now-defunct nonprofit have been convicted of violating federal asbestos laws when the former Castle Air Force ... Insurance Weighs in on Working from Home Working from home has become a hot topic following Yahoo Inc. CEO Marissa Mayer's announced plans in late February to bring telecommuters ... Washington Man Convicted Of Insurance Fraud over $200,000 Patio Cover A jury on Wednesday convicted a Spokane, Wash. man of insurance fraud and attempted theft after claiming $200,000 for a snow-damaged patio ... More West News International U.S. Welcomes China Talks on Cyber Security The White House on Wednesday welcomed China's willingness to hold talks with Washington about cyber security threats, amid growing U.S. ... Carnival Cruise Ship Stuck in St. Maarten Port with Generator Problem A Carnival Cruise Lines ship was stuck at port in St. Maarten on Thursday with equipment trouble, a month after another Carnival vessel was ... Aon Benfield's Impact Forecasting Launches New Cat Scenario Models Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, has launched a suite of new scenario models to ... Finaccord Reports on Bancassurance in Global Markets A new report from UK based market research, publishing and consulting firm Finaccord notes that "emerging markets in the Asia-Pacific ... Tower Closes Merger with Canopius; Changes in Share Listing Tower Group, Inc. announced the closing of its merger with Canopius Holdings Bermuda Limited as of the close of trading on The NASDAQ ... Hong Kong's Peak Re Licenses AIR Worldwide Catastrophe Modeling Systems Catastrophe modeling firm AIR Worldwide announced that Hong Kong-based Peak Reinsurance Co. Ltd., which focuses on the Asia-Pacific market, ... Recently Formed MDS Africa Names Mora Director MDS Group, the Iberian, Latin American and African insurance broker, announced the appointment of Tiago Mora as a director of its recently ... More International News Sponsored Content Titan Claims Management Announcing "Best in Class" Services San Diego, CA 3/14/13 - Titan Claims Management is announcing their premier "Best in Class" services to include claims oversight to third ... More Sponsored Content Join the Insurance Journal Network Insurance Journal TV Gordy Bunch on Growth at The Woodlands Financial Group Richard "Gordy" Bunch, president and CEO of The Woodlands Financial Group, readily concedes... Watch Now Cost of Disaster Relief: IBHS CEO Rochman Why does it seem easier for society and, in particular, government to respond by spending lots... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums 500k cargo endorsement Delaware Posted: Tue Mar 12 -- Does anyone have a market for oversize units hauling construction equipment? I need a 500k cargo endorsement to satisfy a contract. DIG2013 Trailer Interchange 75k Delaware Posted: Tue Mar 12 -- Does anyone have a market for $75k in trailer interchange coverage, and $250k cargo coverage that would include the insured hauling 3 -5... DIG2013 Farmers vs. Independent Posted: Tue Mar 12 -- I don't mean to nitpick, but you do NOT need to have producers under you in order to 'own' an agency. Successful ownership is in the eye of... sacman Surety Bonds Posted: Tue Mar 12 -- We are a surety bond only brokerage/agency, so bonds are our only business. When assisting clients, what factors help you decide from whom... MNeschke Online Competition Posted: Tue Mar 12 -- D's appreciate your thoughts- certainly something to ponder-- to clarify we are a small - 2 agent no staff office. Our expectations may be... William Graham Non compete lawsuit Posted: Mon Mar 11 -- See an attorney. 25 miles is a little bogus but so is the fact he only 3 commissions...it would be better if he had got no compensation,... OldIndyAgent Insurance Noodle vs. Superior Access vs. Agent Secure Posted: Mon Mar 11 -- Small agencies don't write enough to get direct appointments with most carriers. newportins Go to Forums Reader Comments Greenberg Doubles Claims in AIG Bailout Suit vs. U.S. to $55 Billion Posted: Wed Mar 13 -- Greenberg & AIG CAUSED the crisis! They peddled collateral default swaps - which they sold to banks & brokerage houses as insurance on the... SacFlood AIG Shareholders Gain Class Action Status in Greenberg's Bailout Suit Posted: Tue Mar 12 -- Why oh why could we not have let this POS company and their greedy POS shareholders fail and go out of business? This whole narrative... Dave MetLife Moving 2,600 Jobs to North Carolina from Northeast, California Posted: Tue Mar 12 -- >The new jobs, paying average salaries of nearly $82,000 a year, would include product management, marketing, sales and customer support... Celtica St. Louis Company Wins Suit over Bowl-Shaped Chip Posted: Thu Mar 7 -- The litigators must have loved these two companies! Imagine making money by arguing case law over the shape of a chip. Huh! Montana Panel Hears Wrongful Birth, Life Bill Posted: Wed Mar 13 -- Wrongful birth claim? There is something seriously wrong with that phrase. 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